宁波太平鸟时尚服饰股份有限公司 2025 年半年度募集资金存放与实际使用情况的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | 证券代码：603877 | 证券简称：太平鸟 | 公告编号：2025-072 | | --- | --- | --- | | 债券代码：113627 | 债券简称：太平转债 | | 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于核准宁波太平鸟时尚服饰股份有限公司公开 发行可转换公司债券的批复》（证监许可[2021]646 号）核准，宁波太平鸟时尚服 饰股份有限公司（以下简称"公司"）公开发行可转换公司债券（以下简称"可转 债"）8,000,000 张，每张面值 100 元，募集资金总额为 800,000,000 元，上述募 集资金扣除已支付的保荐承销费用 4,500,000 元（含税），实际收到可转债募集资 金 795,500,000 元。上述募集资金已于 2021 年 7 月 21 日全部到位，扣除发行费用 后募集资金净额为 793,661,3 ...

| 证券代码：603877 | 证券简称：太平鸟 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：113627 | 债券简称：太平转债 | | 宁波太平鸟时尚服饰股份有限公司 第五届董事会第六次会议决议公告 1、审议并通过了《2025 年半年度报告全文及摘要》 表决结果：赞成 9 票，反对 0 票，弃权 0 票。 公司 2025 年半年度财务报告已经公司第五届董事会审计委员会第四次会议审 议通过。 2、审议并通过了《2025 年半年度募集资金存放与实际使用情况的专项报告》 表决结果：赞成 9 票，反对 0 票，弃权 0 票。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、董事会会议召开情况 宁波太平鸟时尚服饰股份有限公司（以下简称"公司"）第五届董事会第六次 会议的书面通知于 2025 年 8 月 11 日以电子邮件及专人送达等方式发出，会议于 2025 年 8 月 21 日在公司会议室以现场与通讯相结合的方式召开。会议应出席董事 9 名，实际出席会议董事 9 名 ...

2025年1至6月份，太平鸟的营业收入构成为：服饰运营占比98.86%，其他业务占比0.76%，服饰制造占 比0.38%。 截至发稿，太平鸟市值为71亿元。 每经AI快讯，太平鸟（SH 603877，收盘价：15.05元）8月21日晚间发布公告称，公司第五届第六次董 事会会议于2025年8月21日在公司会议室以现场与通讯相结合的方式召开。会议审议了《2025年半年度 报告全文及摘要》等文件。 每经头条（nbdtoutiao）——最火游资不再是方新侠、章盟主、佛山无影脚？这名95后声名鹊起！ （记者 张明双） ...

[Definitions](index=5&type=section&id=First%20Section%20Definitions) This section provides definitions of key terms used throughout the report [Company Profile and Key Financial Indicators](index=6&type=section&id=Second%20Section%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section outlines the company's fundamental information and presents its key financial performance metrics [Company Basic Information](index=6&type=section&id=I.%20Company%20Information) This chapter provides the company's basic business registration information, including Chinese and English names, legal representative, contact details, and registered and office addresses - The company's full name is Ningbo Peacebird Fashion Apparel Co., Ltd., with Zhang Jiangping as the legal representative[17](index=17&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first half of 2025, the company's performance significantly declined, with operating revenue down 7.86%, net profit attributable to shareholders down 54.61%, and non-recurring net profit plummeting 78.91%, while net cash flow from operating activities turned negative, indicating significant operational pressure 2025 H1 Key Accounting Data | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 2.898 billion yuan | 3.146 billion yuan | -7.86% | | **Net Profit Attributable to Shareholders** | 0.078 billion yuan | 0.171 billion yuan | -54.61% | | **Net Profit Attributable to Shareholders Excluding Non-recurring Items** | 0.014 billion yuan | 0.065 billion yuan | -78.91% | | **Net Cash Flow from Operating Activities** | -0.262 billion yuan | 0.020 billion yuan | -1,425.54% | | **Total Assets (Period-end)** | 7.082 billion yuan | 8.424 billion yuan | -15.94% | 2025 H1 Key Financial Indicators | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Basic Earnings Per Share (yuan/share)** | 0.16 | 0.36 | -55.56% | | **Basic Earnings Per Share Excluding Non-recurring Items (yuan/share)** | 0.03 | 0.14 | -78.57% | | **Weighted Average Return on Net Assets (%)** | 1.72% | 3.75% | Decrease of 2.03 percentage points | - Total non-recurring gains and losses for the reporting period amounted to **64.0026 million yuan**, primarily from government subsidies (**69.6006 million yuan**) and fair value changes and disposal gains/losses from financial assets (**12.9547 million yuan**), significantly supplementing current profit[25](index=25&type=chunk)[26](index=26&type=chunk) [Management Discussion and Analysis](index=8&type=section&id=Third%20Section%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's operational performance, industry trends, core competencies, and risk factors [Industry and Principal Business](index=8&type=section&id=I.%20Description%20of%20the%20Company's%20Industry%20and%20Principal%20Business%20During%20the%20Reporting%20Period) The company focuses on fashion brand retail, aiming to be the preferred brand for Chinese youth, with a multi-brand matrix including PEACEBIRD, LEDIN, and MINI PEACE, driven by a consumer-centric operating model that leverages data-driven product development, omnichannel retail, and agile supply to adapt to industry changes, characterized by stable economic growth, rational consumption, and a return to lean operations in the apparel sector - The company is positioned as a customer-centric fashion brand retail company, meeting diverse segmented customer needs through a multi-brand matrix[28](index=28&type=chunk) - The core operating model involves: data-driven product development, omnichannel retail synergy, and rapid, flexible production and supply[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) - Industry trend analysis: - **Macroeconomic**: In H1 2025, GDP grew by **5.3%** year-on-year, and total retail sales of consumer goods increased by **5.0%**, supporting industry development[39](index=39&type=chunk) - **Consumption Trends**: Consumers are becoming more rational, seeking 'value for money' and demanding higher quality, functionality, and cultural attributes in products[40](index=40&type=chunk) - **Industry Competition**: The industry is entering an intrinsic optimization phase, with companies improving quality and efficiency by strengthening internal capabilities (brand, product, channels, supply chain)[41](index=41&type=chunk) [Discussion and Analysis of Operations](index=14&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operating%20Performance) In H1 2025, the company rebranded with 'Enjoy Quality Fashion' as its core and launched the '2-5-10' strategic plan, actively pursuing brand upgrades, channel optimization (e.g., opening flagship stores), and product innovation, yet retail performance faced pressure, leading to year-on-year declines in both operating revenue and net profit, while continuously optimizing channel structure by closing inefficient stores and focusing on improving store operational quality and sales per square meter - The company established "Enjoy Quality Fashion" as its new brand positioning and released the "2-5-10" medium-to-long-term strategy, aiming to stabilize profitability within **2 years**, become an industry leader within **5 years**, and secure a key position in the global fashion industry within **10 years**[42](index=42&type=chunk) - The company's LEDIN women's wear and MINI PEACE children's wear brands underwent strategic upgrades, adopting new concepts of "Unleashed Rebirth, True Self Blooming" and emphasizing "creativity" and "imagination" respectively, to refresh their brand images[52](index=52&type=chunk)[54](index=54&type=chunk) 2025 H1 Performance Overview | Indicator | Amount | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 2.898 billion yuan | -7.86% | | Net Profit Attributable to Shareholders | 77.7116 million yuan | -54.61% | | Net Profit Excluding Non-recurring Items | 13.7090 million yuan | -78.91% | - In terms of channel strategy, the company continued to close inefficient stores, focusing instead on enhancing terminal brand image and store sales per square meter, and adjusting the channel structure based on the principles of "reducing floors, expanding areas, and improving sales per square meter"[60](index=60&type=chunk) [Analysis of Core Competencies](index=22&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company's core competencies are primarily in brand, product, and retail, leveraging a multi-brand matrix for precise youth fashion market coverage, data-driven product supply chain for design accuracy and inventory turnover, and comprehensive new retail integration for an ultimate shopping experience - **Brand**: Deeply cultivating the youth fashion sector, building a multi-brand matrix to precisely segment and reach target customer groups[61](index=61&type=chunk) - **Product**: Data-driven integration across the entire design, production, and marketing chain, achieving a quick-response mechanism and improving operational efficiency[62](index=62&type=chunk) - **Retail**: Fully embracing new retail, strengthening e-commerce and social retail online, and enhancing in-store experience to build customer communities offline[63](index=63&type=chunk) [Analysis of Key Operating Performance](index=22&type=section&id=IV.%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) During the reporting period, both operating revenue and costs declined, but the cost reduction (-15.54%) exceeded the revenue reduction (-7.86%), primarily due to an improved retail discount rate, leading to a 4.00 percentage point increase in overall gross margin to 60.25%; by brand, all major brands experienced varying degrees of revenue decline but improved gross margins; by channel, online sales revenue decreased by 15.91%, offline sales slightly decreased by 5.13%, with direct-operated store revenue remaining largely flat and franchised store revenue down 13.63%; the company continued to optimize its store network, with a net closure of 194 stores during the period Analysis of Major Financial Statement Item Changes | Item | Current Period Amount | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | | Operating Revenue | 2.898 billion yuan | -7.86% | Decline in retail sales | | Operating Cost | 1.165 billion yuan | -15.54% | Decline in revenue and improved retail discount rate | | Selling Expenses | 1.304 billion yuan | 3.93% | Increased rental and decoration amortization due to more flagship and collection stores | | Net Cash Flow from Operating Activities | -0.262 billion yuan | -1,425.54% | Decline in operating revenue | Brand-wise Profitability | Brand | Operating Revenue (billion yuan) | YoY Revenue Change | Gross Margin (%) | YoY Gross Margin Change | | :--- | :--- | :--- | :--- | :--- | | PEACEBIRD Women's Wear | 1.060 | -10.45% | 61.06% | +5.21 ppt | | PEACEBIRD Men's Wear | 1.180 | -7.42% | 61.54% | +2.28 ppt | | LEDIN Girls' Wear | 0.233 | -7.18% | 55.46% | +5.99 ppt | | MINI PEACE Children's Wear | 0.377 | -3.73% | 60.00% | +3.04 ppt | Channel-wise Profitability | Sales Channel | Operating Revenue (billion yuan) | YoY Revenue Change | Gross Margin (%) | YoY Gross Margin Change | | :--- | :--- | :--- | :--- | :--- | | Online Sales | 0.748 | -15.91% | 49.93% | +5.75 ppt | | Offline Sales | 2.117 | -5.13% | 64.41% | +2.94 ppt | | - Direct-operated Stores | 1.404 | -0.13% | 71.30% | -0.32 ppt | | - Franchised Stores | 0.713 | -13.63% | 50.85% | +6.66 ppt | Physical Store Changes | Store Type | Beginning of Period Quantity | End of Period Quantity | Net Expansion/Closure | | :--- | :--- | :--- | :--- | | Direct-operated | 1,128 | 1,084 | -44 | | Franchised | 2,245 | 2,095 | -150 | | **Total** | **3,373** | **3,179** | **-194** | [Asset and Liability Analysis](index=25&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets were 7.082 billion yuan, a 15.94% decrease from the beginning of the year, with significant changes in monetary funds, accounts receivable, and accounts payable reflecting seasonal sales patterns for spring/summer collections and revenue decline, while prepayments and construction in progress increased due to advance payments for autumn/winter goods and increased investment in the R&D center project Changes in Major Asset and Liability Items | Item Name | Period-end Amount (billion yuan) | Change from Prior Year-end (%) | Primary Reason | | :--- | :--- | :--- | :--- | | Monetary Funds | 0.457 | -54.00% | Lower spring/summer revenue | | Accounts Receivable | 0.308 | -42.00% | Lower unit value of spring/summer items and revenue decline | | Prepayments | 0.133 | 222.71% | Advance payments for autumn/winter goods, higher unit value | | Construction in Progress | 0.067 | 76.03% | Increased investment in Global Fashion R&D Center project | | Accounts Payable | 0.395 | -69.30% | Lower unit value of spring/summer goods payable | | Employee Compensation Payable | 0.111 | -36.99% | Payment of year-end bonuses | [Risk Analysis](index=28&type=section&id=V.%20Other%20Disclosure%20Matters) The company faces six main risks: brand operations, market trend comprehension, macroeconomic fluctuations, franchisee management, inventory management, and talent team stability, with corresponding countermeasures including strengthening brand building, data-driven R&D, optimizing operations, supporting franchisees, promoting quick-response management, and improving talent mechanisms to address potential challenges - The company identified six major risks: - **Brand Operation Risk**: Intense market competition requires continuous improvement in products, channels, and brand promotion to meet consumer demands[75](index=75&type=chunk) - **Market Trend Risk**: Rapid changes in consumer preferences mean that failure to adjust product design and marketing promptly could adversely affect performance[76](index=76&type=chunk) - **Macroeconomic Risk**: Apparel consumption is highly elastic and susceptible to economic fluctuations[78](index=78&type=chunk) - **Franchisee Model Risk**: Independent operation by franchisees may lead to inadequate management, impacting brand image and performance[79](index=79&type=chunk) - **Inventory Management Risk**: A large amount of inventory carries risks of impairment and write-downs[80](index=80&type=chunk) - **Talent and Team Risk**: Personnel turnover may affect team collaboration and business continuity[81](index=81&type=chunk) [Corporate Governance](index=30&type=section&id=Fourth%20Section%20Corporate%20Governance%2C%20Environment%20and%20Society) This section details changes in the company's governance structure, including board and supervisory board members, and equity incentive plans [Changes in Directors, Supervisors, and Senior Management](index=30&type=section&id=I.%20Changes%20in%20the%20Company's%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, changes occurred in the company's board of directors and supervisory board, with Mr. Wang Mingfeng resigning as director and deputy general manager, Mr. Ou Limin being appointed as a new director, and the company resolving to abolish the supervisory board and electing Mr. Weng Jianghong as an employee representative director - Wang Mingfeng resigned from his positions as company director and deputy general manager due to personal reasons[84](index=84&type=chunk) - The company resolved on June 30, 2025, to abolish the supervisory board and elected Weng Jianghong as an employee representative director for the fifth board of directors[84](index=84&type=chunk) [Equity Incentive Plan](index=30&type=section&id=III.%20Status%20and%20Impact%20of%20the%20Company's%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) During the reporting period, the company terminated its 2021 restricted stock incentive plan, repurchased and canceled some restricted shares, and the reserved equity of the 2024 stock option and restricted stock incentive plan expired - The company terminated the 2021 restricted stock incentive plan and repurchased and canceled some restricted shares[85](index=85&type=chunk) [Significant Matters](index=32&type=section&id=Fifth%20Section%20Significant%20Matters) This section covers important events and decisions, including major related party transactions and the use of raised funds [Significant Related Party Transactions](index=34&type=section&id=X.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company projected total daily related party transactions for 2025 to be 50 million yuan, with actual transactions amounting to 10.9169 million yuan by period-end, remaining within the estimated limit, primarily involving related party leases, procurement of goods/acceptance of services, sales of goods/provision of services, and donations 2025 Annual Daily Related Party Transactions: Estimated vs. Actual | Related Party Transaction Type | Estimated Amount (million yuan) | Actual Amount (million yuan) | | :--- | :--- | :--- | | Related Party Leases - Lessee | 20.00 | 6.0488 | | Procurement of Goods/Acceptance of Services from Related Parties | 5.00 | 0.5713 | | Sales of Goods/Provision of Services to Related Parties | 5.00 | 2.9607 | | Donations | 10.00 | 0.00 | | Sales of Goods to Related Parties | 10.00 | 1.3361 | | **Subtotal** | **50.00** | **10.9169** | [Use of Raised Funds](index=37&type=section&id=XII.%20Explanation%20of%20Progress%20in%20the%20Use%20of%20Raised%20Funds) In 2021, the company raised a net amount of 794 million yuan through convertible bonds; during the reporting period, the company changed part of its fundraising projects, reallocating 493 million yuan from the uninvested 'Technology Digital Transformation Project' to the 'Ningbo High-tech Zone Peacebird Global Fashion R&D Center Project' due to significant changes in the original project's internal and external operating and technical environment - The company reallocated **492.8537 million yuan** of unused raised funds from the "Technology Digital Transformation Project" to construct the "Ningbo High-tech Zone Peacebird Global Fashion R&D Center Project"[102](index=102&type=chunk) - The project change was due to significant changes in the internal and external environment for the original project's implementation, including organizational structure reforms, adjustments to operating strategies, and rapid iteration of digital technologies[102](index=102&type=chunk) [Share Changes and Shareholder Information](index=41&type=section&id=Sixth%20Section%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital and provides an overview of its shareholder structure [Share Capital Changes](index=41&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, the company's total share capital decreased from 473.8253 million shares to 471.0754 million shares, primarily due to the termination of the equity incentive plan and the departure of some incentive recipients/failure to meet performance targets, resulting in the repurchase and cancellation of a total of 2.75 million restricted shares - The company's total share capital decreased by **2,749,932 shares**, mainly due to the repurchase and cancellation of restricted shares already granted but not yet unlocked[109](index=109&type=chunk)[110](index=110&type=chunk) [Shareholder Information](index=43&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the company had 11,530 common shareholders; among the top ten shareholders, controlling shareholder Peacebird Group Co., Ltd. held 40.88% of shares, forming a concerted action group with Zhang Jiangbo, Ningbo Fanmei Investment, and Ningbo Hele Investment Top Five Shareholders' Holdings | Shareholder Name | Period-end Holding Quantity (shares) | Proportion (%) | | :--- | :--- | :--- | | Peacebird Group Co., Ltd. | 192,589,788 | 40.88% | | Zhang Jiangbo | 77,347,912 | 16.42% | | Ningbo Fanmei Investment Management Co., Ltd. | 42,168,000 | 8.95% | | Chen Hongchao | 22,398,600 | 4.75% | | Ningbo Hele Investment Co., Ltd. | 17,724,307 | 3.76% | [Bond-Related Information](index=46&type=section&id=Seventh%20Section%20Bond-Related%20Information) This section provides details on the company's convertible corporate bonds, including issuance, conversion status, and credit ratings [Convertible Corporate Bonds](index=46&type=section&id=II.%20Convertible%20Corporate%20Bonds) In July 2021, the company issued 800 million yuan of 6-year convertible corporate bonds, 'Peacebird Convertible Bonds' (code 113627); no conversion, redemption, or put options occurred during the reporting period; as of period-end, the unconverted amount was 799.8 million yuan, accounting for 99.97% of the total issuance; due to annual equity distribution and repurchase/cancellation of restricted shares, the conversion price has been adjusted multiple times, with the latest conversion price at 20.88 yuan/share; the company's and bond's credit ratings are both AA, with a stable outlook - The company's "Peacebird Convertible Bonds" were listed on August 6, 2021; as of the end of the reporting period, the cumulative conversion ratio was extremely low, with an unconverted amount of **799.752 million yuan**, accounting for **99.9690%** of the total issuance[123](index=123&type=chunk)[127](index=127&type=chunk) - Due to the implementation of the 2024 annual equity distribution and the repurchase and cancellation of restricted shares, the conversion price was adjusted to **20.88 yuan/share** on June 13, 2025[129](index=129&type=chunk) - United Credit Ratings maintained the company's long-term credit rating at **AA**, the "Peacebird Convertible Bonds" credit rating at **AA**, and the rating outlook as stable[130](index=130&type=chunk) [Financial Report](index=48&type=section&id=Eighth%20Section%20Financial%20Report) This section presents the company's complete financial statements and detailed notes to the consolidated financial statement items [Financial Statements](index=48&type=section&id=II.%20Financial%20Statements) This chapter includes the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025 [Notes to Consolidated Financial Statement Items](index=90&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This chapter provides detailed explanations of the composition and changes of major items in the consolidated financial statements, including monetary funds, accounts receivable, inventories, fixed assets, construction in progress, accounts payable, revenue, and costs Inventory Age and Impairment Provision (Period-end) | Inventory Age | Book Balance (billion yuan) | Impairment Provision (billion yuan) | Provision Ratio (%) | | :--- | :--- | :--- | :--- | | Within 1 year | 1.069 | 0.00 | 0.00% | | 1-2 years | 0.364 | 0.073 | 20.00% | | 2-3 years | 0.212 | 0.106 | 50.00% | | Over 3 years | 0.036 | 0.036 | 100.00% | | **Total** | **1.681** | **0.215** | **12.76%** | - The period-end balance of construction in progress was **67.4253 million yuan**, a significant increase from **38.3029 million yuan** at the beginning of the period, mainly due to increased investment in the Ningbo High-tech Zone Peacebird Global Fashion R&D Center Project and the Omnichannel Operations Platform Project[308](index=308&type=chunk)

Core Viewpoint - The company reported a decline in both revenue and net profit for the first half of the year, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved operating revenue of 2.898 billion, a year-on-year decrease of 7.86% [1] - The net profit attributable to shareholders was 77.7116 million, reflecting a year-on-year decline of 54.61% [1] - The net profit after deducting non-recurring gains and losses was 13.709 million, showing a significant year-on-year decrease of 78.91% [1]

人民财讯8月21日电，太平鸟（603877）8月21日晚间披露2025年半年度报告，上半年实现营业收入 28.98亿元，同比下降7.86%；归母净利润7771.16万元，同比下降54.61%；基本每股收益0.16元。 ...

太平鸟公告，2025年上半年营业收入28.98亿元，同比下降7.86%。净利润7771.16万元，同比下降 54.61%。 ...

以8月19日收盘价计算，老铺黄金目前市盈率（TTM）约77.99倍，市净率（TTM）约29.31倍，市销率（TTM）约13.51倍。 市净率(LF)历史分位(%) 100 ଛି ୨୦ 80 70 60 50 44-29 40 30 20 10 8.93 6.07 0 2024-06-30 | 2024-09-30 | 2024-12-37 | 制图数据来自恒生聚源数据库 公司经营范围包括组织文化艺术交流；承办展览展示；工艺美术设计；产品设计；销售金银制品、珠宝首饰、工艺品；非物质文化遗产保护；货物进出口、 代理进出口、技术进出口。(市场主体依法自主选择经营项目，开展经营活动；依法须经批准的项目，经相关部门批准后依批准的内容开展经营活动；不得 从事国家和本市产业政策禁止和限制类项目的经营活动)。 400 - % 300 250.95 200 167.51 145.67 100 41g21 0 -100 2020 2021 2022 2023 2024 2025H1 营业收入同比增长率 -○- 归母净利润同比增长率 制图数据来自恒生聚源数据库 营收、净利半年度变动情况(亿元) 140 120 100 80 -12 ...

Group 1 - In July, the total retail sales of consumer goods reached 38,780 billion yuan, with a year-on-year growth of 3.7% [1][6] - Excluding automobiles, the retail sales of consumer goods amounted to 34,931 billion yuan, growing by 4.3% [1][6] - From January to July, the total retail sales of consumer goods were 284,238 billion yuan, with a growth rate of 4.8% [1][6] Group 2 - Urban retail sales in July were 33,620 billion yuan, reflecting a year-on-year increase of 3.6%, while rural retail sales reached 5,160 billion yuan, growing by 3.9% [3] - For the first seven months, urban retail sales totaled 246,669 billion yuan, with a growth of 4.8%, and rural retail sales were 37,569 billion yuan, increasing by 4.7% [3] Group 3 - In July, the retail sales of goods were 34,276 billion yuan, with a year-on-year growth of 4.0%, while catering revenue was 4,504 billion yuan, growing by 1.1% [3][6] - From January to July, the retail sales of goods reached 252,254 billion yuan, with a growth of 4.9%, and catering revenue was 31,984 billion yuan, increasing by 3.8% [3] Group 4 - For the first seven months, retail sales in convenience stores, supermarkets, department stores, specialty stores, and brand exclusive stores grew by 7.0%, 5.2%, 1.1%, 5.8%, and 1.9% respectively [4] - The national online retail sales reached 86,835 billion yuan, with a year-on-year growth of 9.2%, and the physical goods online retail sales were 70,790 billion yuan, growing by 6.3% [4] Group 5 - The newly opened Apple Store in Shenzhen is the third in the city and the 58th in Greater China, completing the layout along the east-west axis of Shenzhen [11] - The first city duty-free store in Shenzhen is set to open on August 26, featuring a diverse range of products including beauty, watches, and high-end liquor [13] Group 6 - The local fashion brand Lemanism is opening its first store in Nanchang, focusing on a comfortable and sunny shopping experience for the youth [25] - The brand BornTooth is expanding with its fourth store in Shanghai, emphasizing natural pet care products [27] Group 7 - The high-end dining brand PIZZERIA from Pizza Hut has opened its first store in South China, targeting young consumers with a focus on aesthetic dining experiences [30] - JD's first outlet in Nanjing has opened, featuring over 70 brands and a unique shopping experience [31] Group 8 - The sports brand 361 Degrees reported a revenue of 5.705 billion yuan for the first half of 2025, with a year-on-year growth of 11% [38] - Lilang Group's revenue for the first half of the year was 1.727 billion yuan, reflecting a growth of 7.9% [41] Group 9 - The company Bubu Gao reported a net profit of 201 million yuan for the first half of 2025, marking a significant turnaround [42] - The company has improved its operational quality by closing underperforming stores and focusing on high-potential locations [43]

Core Viewpoint - Ningbo Taiping Bird Fashion Co., Ltd. has completed the registration of changes in business and has reissued its business license following the cancellation of its supervisory board and amendments to its articles of association [1] Group 1: Company Changes - The company held its fifth board meeting and the second extraordinary general meeting on June 12 and June 30, 2025, respectively, where it approved the proposal to cancel the supervisory board and amend the articles of association [1] - The company has completed the business registration changes and obtained a new business license from the Ningbo Market Supervision Administration [1] Group 2: Business License Information - The new business license includes the following details: - Unified Social Credit Code: 91330200730186169P - Name: Ningbo Taiping Bird Fashion Co., Ltd. - Registered Capital: 471,075,401 CNY - Type: Joint-stock company (listed, natural person investment or control) - Establishment Date: September 10, 2001 - Legal Representative: Zhang Jiangping - Address: No. 2, South Section of Hengjie Avenue, Hengjie Town, Haishu District, Ningbo, Zhejiang Province [1] Group 3: Business Scope - The company's business scope includes: - Retail and wholesale of clothing and accessories - Clothing manufacturing - Technical services, development, consulting, exchange, transfer, and promotion - Professional design services - Wholesale and retail of shoes and hats - Wholesale and retail of cosmetics - Manufacturing of feather (down) and products - Sales of daily necessities and stationery - Internet sales (excluding items requiring permits) - Sales of non-medical masks and Class I medical devices (subject to approval) [1]